Markets continued to trade weak, RIL down 1%

Oil & gas, metal, banks and IT shares in red; Maruti Suzuki, Larsen & Toubro buck general trend

Markets continued to trade in the red as metal, oil and PSU shares exerted pressure on the index. The Sensex, after touching a low of 19,395, recovered marginally and was trading at 19,485 - down 83 points. Nifty was down 24 points at 5,900.

Meanwhile in Asia, indices were in the red with the Nikkei down over 1%. Japan's benchmark index Nikkei has been volatile since early trades today. Hang Seng, Straits Times, Kospi and Taiwan Weighted were down over 1% each while Shanghai Composite was marginally down 0.1%.

BSE oil & gas index was down 0.7% at 8,559.

Reliance Industries chairman and managing director Mukesh Ambani today said that the company will invest Rs 1.5 lakh crore over 3 years. He, however, added that the oil & gas business environment remains tough. Shares of Reliance was down 1% at Rs 795.

Metal index slipped 1% on continued weakness in the LME. The index was down 1% at 8,457.

On the other hand, BSE capital goods index added 0.5% at 9,416. BSE consumer durables index was marginally in green.

Bharti Airtel shed 2.2% at Rs 295. GAIL India, Hindalco and Sun Pharma were down 1.5% each. Among other key losers were Tata Steel, NTPC, Infosys and Coal India.

On the other hand, Maruti Suzuki and Larsen & Toubro added 1.3% each at Rs 1,437 and Rs 1,587. HDFC, Wipro, Cipla and ICICI Bank were also in green.

BSE market breadth was negative. Out of 1,972 stocks traded, 1,065 shares declined while 781 shares advanced.